Companies · Healthtech

Health Catalyst, Inc.

SOUTH JORDAN · Healthtech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Health Catalyst, Inc. — recommendation, valuation, rhythm, risks.
$414.2M
Total raised · real
13
Rounds
2.5×
Latest step-up
Top 2%
Sector rank · raised
Series C
Latest stage · inferred · Wed Jan 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Health Catalyst, Inc. looks fair against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the healthtech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.98× the median modeled value of Series C Healthtech companies in 2025–2027 (19 peers) — value vs value, same stage and era.
  • Within the normal band (98% of peer median) for its niche.
Quiet
  • Last raise 17 mo ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Healthtech

Health Catalyst, Inc. is one of 2138 Healthtech companies tracked from SOUTH JORDAN. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
109
Investors (latest)
2025-01-22
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeries C · 2015-03-12 Raised $70M (real) Modeled valuation $1.8B (est)Series C2015Series C · 2016-02-09 Raised $70M (real) Modeled valuation $1.8B (est)Series C2016Series C · 2017-07-01 Raised $25M (real) Modeled valuation $639M (est)Series C2017Series C · 2017-10-13 Raised $55M (real) Modeled valuation $1.4B (est)Series C2017Series C · 2019-02-06 Raised $12M (real) Modeled valuation $312M (est)Series C2019Series C · 2020-07-31 Raised $23M (real) Modeled valuation $575M (est)Series C2020Series C · 2020-09-01 Raised $50M (real) Modeled valuation $1.2B (est)Series C2020Series C · 2021-07-01 Raised $47M (real) Modeled valuation $913M (est)Series C2021Series C · 2022-02-24 Raised $13M (real) Modeled valuation $219M (est)Series C2022Series C · 2022-04-29 Raised $6.0M (real) Modeled valuation $93M (est)Series C2022Series C · 2024-05-24 Raised $2.5M (real) Modeled valuation $22M (est)Series C2024Series C · 2024-08-01 Raised $2.5M (real) Modeled valuation $21M (est)Series C2024Series C · 2024-11-08 Raised $18M (real) Modeled valuation $139M (est)Series C2024Series C · 2025-01-22 Raised $45M (real) Modeled valuation $324M (est)Series C2025Cumulative $439M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series C$70.0M · 2015
Series C extension$70.0M · 2016
Series C extension$25.0M · 2017
Series C extension$55.0M · 2017
Series C extension$12.2M · 2019
Series C extension$23.0M · 2020
Series C extension$50.0M · 2020
Series C extension$47.0M · 2021
Series C extension$13.5M · 2022
Series C extension$6.0M · 2022
Series C extension$2.5M · 2024
Series C extension$2.5M · 2024
Series C extension$18.0M · 2024
Series C extension$44.5M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$323.6M
Base estimate est.
$161.7M
Conservative case
$455.2M
Upside case
$296.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the healthtech sector profile. Directional, not a quoted figure.

Series C · modeled $1.8B · 2015-03-122015Series C · modeled $1.8B · 2016-02-09Series C · modeled $639.4M · 2017-07-01Series C · modeled $1.4B · 2017-10-13Series C · modeled $311.7M · 2019-02-06Series C · modeled $575.3M · 2020-07-31Series C · modeled $1.2B · 2020-09-01Series C · modeled $913.3M · 2021-07-01Series C · modeled $219.0M · 2022-02-24Series C · modeled $92.8M · 2022-04-29Series C · modeled $21.8M · 2024-05-24Series C · modeled $20.7M · 2024-08-01Series C · modeled $138.5M · 2024-11-08Series C · modeled $323.6M · 2025-01-222025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.32×/yr
Annual markup
1.51×/yr upside case
1.4 yr
Elapsed time used
1.4 yr actual, capped for stale marks
healthtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$42.0M/yr
Capital velocity
11.3 yr
On record since
2015
First round
14
Rounds on file
How it compares to the market

Benchmarked against 2138 companies in Healthtech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 93× above median
This company$414.2M
Sector median$4.5M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.0× of median
This company$44.5M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 9.6× above median
This company$323.6M
Sector median$33.8M

Raised more than 99% of sector peers (real $). Modeled value above 90% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #12 of 19.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Thyme Care, Inc. · Series C Raised $214.3M · modeled $668.4M (est)Cohere Health Inc. · Series C Raised $166.1M · modeled $604.6M (est)All Inspire Health, Inc. · Series C Raised $137.4M · modeled $550.2M (est)Harbor Health Team Inc. · Series C Raised $189.1M · modeled $516.6M (est)Apreo Health, Inc. · Series C Raised $81.8M · modeled $513.3M (est)4C Medical Technologies, Inc. · Series C Raised $145.5M · modeled $383.2M (est)Sprinter Health, Inc. · Series C Raised $55.0M · modeled $378.8M (est)Diana Health, Inc. · Series C Raised $66.0M · modeled $345.2M (est)Equip Health, Inc. · Series C Raised $163.8M · modeled $343.5M (est)Ascend Wellness Holdings, Inc. · Series C Raised $219.1M · modeled $330.8M (est)XO Health Inc. · Series C Raised $52.2M · modeled $323.7M (est)Health Catalyst, Inc. (this company) Raised $414.2M · modeled $323.6M (est)Health Catalyst, Inc.
CompanyStageRaised · realValue · estvs peer med.
Thyme Care, Inc.Series C$214.3M$668.4M2.02×
Cohere Health Inc.Series C$166.1M$604.6M1.83×
All Inspire Health, Inc.Series C$137.4M$550.2M1.66×
Harbor Health Team Inc.Series C$189.1M$516.6M1.56×
Apreo Health, Inc.Series C$81.8M$513.3M1.55×
4C Medical Technologies, Inc.Series C$145.5M$383.2M1.16×
Sprinter Health, Inc.Series C$55.0M$378.8M1.14×
Diana Health, Inc.Series C$66.0M$345.2M1.04×
Equip Health, Inc.Series C$163.8M$343.5M1.04×
Ascend Wellness Holdings, Inc.Series C$219.1M$330.8M1.00×
XO Health Inc.Series C$52.2M$323.7M0.98×
Health Catalyst, Inc. this companySeries C$414.2M$323.6M0.98×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series C$70.0M2015-03-12$466.7M$1.8B85%
Series C$70.0M2016-02-09$466.7M$1.8B85%
Series C$25.0M2017-07-01$166.7M$639.4M90%
Series C$55.0M2017-10-13$366.7M$1.4B90%
Series C$12.2M2019-02-06$81.3M$311.7M90%
Series C$23.0M2020-07-31$153.3M$575.3M90%
Series C$50.0M2020-09-01$333.3M$1.2B90%
Series C$47.0M2021-07-01$313.5M$913.3M90%
Series C$13.5M2022-02-24$90.0M$219.0M90%
Series C$6.0M2022-04-29$40.0M$92.8M90%
Series C$2.5M2024-05-24$16.7M$21.8M90%
Series C$2.5M2024-08-01$16.7M$20.7M90%
Series C$18.0M2024-11-08$120.0M$138.5M90%
Series C$44.5M2025-01-22$296.7M$323.6M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series C$70.0M2015-03-12
    • First recorded raise — entered as Series C.
    • 16 investors on this round.
  2. Series C$70.0M2016-02-09
    • Raised 11 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 20 investors on this round.
  3. Series C$25.0M2017-07-01
    • Raised 17 mo later, in step with the ~14 mo sector norm.
    • Round 2.8× smaller than the prior — bridge or down round.
  4. Series C$55.0M2017-10-13
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 21 investors on this round.
  5. Series C$12.2M2019-02-06
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 4.5× smaller than the prior — bridge or down round.
    • 22 investors on this round.
  6. Series C$23.0M2020-07-31
    • Raised 18 mo later, in step with the ~14 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • 34 investors on this round.
  7. Series C$50.0M2020-09-01
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 23 investors on this round.
  8. Series C$47.0M2021-07-01
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 116 investors on this round.
  9. Series C$13.5M2022-02-24
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round 3.5× smaller than the prior — bridge or down round.
    • 16 investors on this round.
  10. Series C$6.0M2022-04-29
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  11. Series C$2.5M2024-05-24
    • Raised again after 25 mo — slower than the ~14 mo sector norm.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 13 investors on this round.
  12. Series C$2.5M2024-08-01
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 7 investors on this round.
  13. Series C$18.0M2024-11-08
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 7.2× larger than the prior — scaling up.
    • 10 investors on this round.
  14. Series C$44.5M2025-01-22
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 109 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~9mo cadence
$110.0M
Modeled next size est.range $71.5M$176.0M
2.5×
Last step-up
$42.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
John A Kane3 other2020-07
Kevin D Freeman2 other2024-05
Fraser C. Bullock1 other2015-03
Promod C. Haque1 other2015-03
Anita D. Pramoda2017-07
Anita V. Pramoda2020-07
Benjamin D. Landry2024-05
Brent C. Dover2015-03
Bryan B. Hinton2022-02
Bryan Patrick Hunt2021-07
Dan D. Strong2016-02
Daniel D. Burton2015-03
Daniel D. LeSueur2024-05
Daniel D. Orenstein2016-02
Daniel Patrick Orenstein2020-07
Dawn V. Smith2020-07
Duncan D. Gallagher2017-07
Duncan V. Gallagher2020-07
Fraser A. Bullock2020-07
Fraser D. Bullock2016-02
James Patrick Nelli, Jr.2020-07
Jason B. Alger2022-02
Jason D. Alger2024-05
Jeffrey P. Selander2015-03
Registry & provenance

Health Catalyst, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1636422
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Ascend Wellness Holdings, Inc.HealthtechSeries C$219.1M$330.8Msame sector · same stage
Harbor Health Team Inc.HealthtechSeries C$189.1M$516.6Msame sector · same stage
Vertos Medical IncHealthtechSeries C$177.3M$514.0Msame sector · same stage
Cala Health, Inc.HealthtechSeries C$166.1M$370.1Msame sector · same stage
Equip Health, Inc.HealthtechSeries C$163.8M$343.5Msame sector · same stage
Wellvana Health, LLCHealthtechSeries C$161.2M$154.4Msame sector · same stage
Route 92 Medical, Inc.HealthtechSeries C$158.1M$428.8Msame sector · same stage
CSA Medical, Inc.HealthtechSeries C$156.7M$484.1Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Catalyst Healthcare Ltd.HealthtechSeed$40.7M95%
Apaly Health, Inc.HealthtechSeed$8.2M87%
Healthe, Inc.HealthtechSeries B$465.2M87%
Healthcare, Inc.HealthtechSeries D+$4.0B87%
Healthfinch, Inc.HealthtechSeries A$129.6M86%
Health Warrior, Inc.HealthtechSeries A$112.9M86%
Develop Health Inc.HealthtechSeries B$87.4M86%
Beam Health, Inc.HealthtechSeed$6.0M86%
Frequently asked
How much funding has Health Catalyst, Inc. raised?
Health Catalyst, Inc. has raised approximately $414.2M in disclosed capital across 13 recorded financing rounds, aggregated from public filings.
What is Health Catalyst, Inc.'s estimated valuation?
Provath's modeled valuation for Health Catalyst, Inc. is approximately $323.6M (modeled range $161.7M–$455.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Health Catalyst, Inc. at?
Health Catalyst, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Wed Jan 22.
What does Health Catalyst, Inc. do and where is it based?
Health Catalyst, Inc. operates in the Healthtech sector, based in SOUTH JORDAN.
Explore related

See where Health Catalyst, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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